Dien Rice
June 21, 2015, 04:58 PM
Personally I think the "I'm the expert toll position" is in many cases more easily achieved and is easier to maintain long-term than the "find a product" toll position.
Thanks Mike... it's true, being the "expert" is also a type of toll position. That's why some consultants can get very highly paid... People feel that those consultants have expertise they need, and which they can't get from a cheaper consultant!
A quick example is Denny Hatch. He's an expert in direct response marketing, including copywriting. He took down his web page with his consulting fees, but you can still see the old version from 2013... At that time, he charged $700 per hour, or $5,000 per day, to consult with you about your business and marketing.
https://web.archive.org/web/20130530232410/http://www.dennyhatch.com/tons/fees.html
He can charge $5,000 a day - and get it - because he has a strong "expertise" toll position...
Of course, there are many others who get even more... and they can get it due to their strong toll position as an expert...
In this day and age the ability to knock-off a product is beyond epidemic... which makes the lifespan of products (and a product toll position) shorter and shorter.
I think it depends on your protection. For example, it's extremely easy to "knock off" Mickey Mouse, and print Mickey Mouse T-shirts for example. However, you don't see too many of them around - at least in "Western" countries. The reason why is because Disney will legally defend their "toll position" and quickly put these knock-off artists out of business, and make sure they are heavily fined.
However, you need to have the toll position in the first place in order to do this!
In countries where protection for copyrights and trademarks is weak, it's a different story... But that doesn't mean you can't still make a lot of money, for long periods of time, in the many countries (including the USA) where the "rule of law" is strong...
Thanks Mike!
- Dien
Thanks Mike... it's true, being the "expert" is also a type of toll position. That's why some consultants can get very highly paid... People feel that those consultants have expertise they need, and which they can't get from a cheaper consultant!
A quick example is Denny Hatch. He's an expert in direct response marketing, including copywriting. He took down his web page with his consulting fees, but you can still see the old version from 2013... At that time, he charged $700 per hour, or $5,000 per day, to consult with you about your business and marketing.
https://web.archive.org/web/20130530232410/http://www.dennyhatch.com/tons/fees.html
He can charge $5,000 a day - and get it - because he has a strong "expertise" toll position...
Of course, there are many others who get even more... and they can get it due to their strong toll position as an expert...
In this day and age the ability to knock-off a product is beyond epidemic... which makes the lifespan of products (and a product toll position) shorter and shorter.
I think it depends on your protection. For example, it's extremely easy to "knock off" Mickey Mouse, and print Mickey Mouse T-shirts for example. However, you don't see too many of them around - at least in "Western" countries. The reason why is because Disney will legally defend their "toll position" and quickly put these knock-off artists out of business, and make sure they are heavily fined.
However, you need to have the toll position in the first place in order to do this!
In countries where protection for copyrights and trademarks is weak, it's a different story... But that doesn't mean you can't still make a lot of money, for long periods of time, in the many countries (including the USA) where the "rule of law" is strong...
Thanks Mike!
- Dien
